Leasing Questions Answered Lease Company (Lessor) Customer (Lessee) Legal Agreement Vin Number Specific Vehicle Specific Amount of Time Specified Conditions.

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Presentation transcript:

Leasing Questions Answered

Lease Company (Lessor) Customer (Lessee) Legal Agreement Vin Number Specific Vehicle Specific Amount of Time Specified Conditions Specified Cost

Customer Drives an AutomobileMaking Relatively Low Payments Auto Owned by Leasing Company (or Bank) Leased for a Specific Time PeriodReturned at the End of the Lease Option To Purchase Generally Offered

Steady Reduction in a Vehicle’s Value Based on Vehicle Age Based on Miles Driven Greatest in the First Year

Lessees Pay for Depreciation Not the Entire Value of a Vehicle

 End One Lease and Begin Another  Same Vehicle  Cannot Change Finance Terms of a Lease

 Predicted Lease-End Value of Vehicle  Important to the Calculation of Monthly Payment Lease Payment Basis  Negotiated Price – Residual Value

Excessive Mileage Penalty on a Per-Mile Basis Excessive Wear-and- Tear Damages Beyond “Normal” Terminating a Lease Before Normal End Date